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Namasté 🙏~ The Dinarian

While Bitcoin (BTC) flirts with the long-awaited $100,000, and Jim Cramer recommends a “buy,” crypto traders eye the Altseason. Historically, money has rotated from Bitcoin into altcoins after significant breakouts, which could occur again this cycle, starting on Sunday.

This is because Sunday, November 24, will close the third consecutive week above Bitcoin’s last weekly candle’s high. Essentially, an altseason started every time this pattern occurred in the previous two cycles, as TechDev shared on X.

An altseason happens when altcoins outperform Bitcoin, diminishing its market cap dominance. Some analysts are already excluding Ethereum (ETH) as part of “altcoin” analysis, given its market size and relevance.

In summary, trading experts and crypto investors expect mid-to-low-caps to outperform the leaders, better distributing the capital among all cryptocurrencies.

The altcoins season (altseason) is starting

On TechDev’s insight, the Bitcoin and crypto analyst pointed out a pattern that dates back to March 2017. According to him, the last two altseasons started after three consecutive weekly closes above the last Bitcoin weekly high.

This pattern is in play right now, with the third consecutive week to close tomorrow, Sunday night, starting on Monday. Therefore, this week could be a key period for what some experts are labeling “utility altcoins,” with high growth potential.

Notably, TechDev crossed over the Bitcoin Dominance Index (BTC.D) with Bitcoin’s weekly chart, illustrating the start of the altseason.

In this context, some altcoins have already started surging, leading the way for other cryptocurrencies. Solana (SOL), Ripple (XRP), Cardano (ADA), Algorand (ALGO), Hedera (HBAR), Near Protocol (NEAR), and Sui Network (SUI) are some of them, outperforming other projects in the past few days as money starts rotating from Bitcoin and Ethereum to lower caps.

Bitcoin Dominance Index (BTC.D) today

As of today, Bitcoin dominance is retracing backward, testing the 50-day exponential moving average again, which is significant chart support. Currently, BTC has 59.30% of the entire cryptocurrency market capitalization, according to TradingView’s index.

Confirming a daily drop below the 59.50% moving support could validate the aforementioned historical analysis, marking the altseason start.

Interestingly, BTC.D has followed a previous analysis by CrypNuevo, reported on Finbold, looking to a resistance retest. The analyst forecasted Bitcoin’s dominance would make a top between 61% and 62%, confirming it with a retest before crashing.

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We’re excited to announce our partnership with DoraHacks, a global hackathon movement and Web3 developer incentive platform.

Together, we’ll launch exciting initiatives to empower developers to grow within the Sonic ecosystem. Take a look at some of these initiatives below.

Online Hackathons

DoraHacks is renowned for its online hackathons, which bring together a diverse global community of developers to solve real-world problems. Through this partnership, we’ll host hackathons designed to spark creativity, encourage collaboration, and address key challenges in blockchain.

Real-Life Hackathons

Building on DoraHacks’s expertise in organizing immersive, real-world events, we’ll be hosting in-person hackathons starting in Q1 and Q2 of 2025. These events will provide an interactive space for developers to work together, receive mentorship, and showcase their skills, while fostering meaningful connections within the community.

App Bounties

DoraHacks's bounty platform enables us to tap into a global community of developers to crowdsource innovative solutions. Through this platform, we’ll launch targeted app bounties, offering rewards to developers for creating apps that address the specific needs of the Sonic ecosystem or fulfill user-driven requests.

Targeted Bounties for Sonic University

As part of the Sonic University, we’ll focus on specific regions like Vietnam and the Philippines to engage local cohorts and students. These tailored bounty programs will create opportunities for emerging talent to contribute to the Web3 space while earning rewards and gaining real-world experience.

This partnership is a major step toward engaging with a global network of talented builders and advancing the possibilities of Web3 technology. We can’t wait to share more about these initiatives soon!

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